Forex Trading Strategies: Money Management
How can you be profitable in forex trading? Look at this table and study it well — it could change your trading forever! In it, you have profits and losses in pips for various combinations of TP: SL (take profit target and stop loss distance, in pips) for different win rates. The profits are given in pips for a total of 10 trades. Once you have looked at it enough, read on for very important insights on how to become profitable in forex trading. A must-read! It is possible to become systematically profitable in forex trading with MANY strategies and systems. Some trade 10 times per day and stare at the screen all the time so that they get very tight entries, others place 10 trades per week, and others 10 trades per month. Some use indicators, others watch for “patterns” (head and shoulders, double top/bottom, pennant, etc.), others use pure price action, others use moving averages, some trade the news, some are macro position traders, and so on. In ALL these “styles” there are sys...